President Donald Trump's announcement of 30% tariffs on the European Union will have repercussions for companies and consumers on both sides of the Atlantic.

The EU is prepared to take the necessary steps to safeguard its interests if the U.S. proceeds with imposing a 30% tariff on European goods starting Aug 1, European Commission President Ursula von der Leyen said on Saturday.

Makers of the most advanced artificial intelligence systems face obligations for transparency, copyright protection and public safety. The rules are not enforceable until next year.

President Trump threatened a significant tariff hike on the European Union and Mexico, two of the largest U.S. trade partners, on Saturday. NBC News’ Yamiche Alcindor has more.

The EU is ready to retaliate to safeguard its interests if the U.S. proceeds with imposing a threatened 30% tariff on European goods starting on August 1, European Commission President Ursula von der Leyen said on Saturday.

President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.

TikTok is facing a fresh European Union privacy investigation into user data transferred to China. The Irish Data Protection Commission opened the inquiry as a follow up to a previous investigation that ended earlier this year with a 530 million euro fine.

Israel has agreed to allow in fuel for the first time since March; the E.U. will have a presence at border crossings.